By IANS
Mumbai : Reliance Telecom Infrastructure Ltd (RTIL) has sold a five percent of its Rs. 270 billion ($6.75 billion) telecom tower business, through a placement to leading institutional investors from the US, Europe and Asia, for Rs. 14 billion ($337.5 million).
RTIL Chairman Anil Ambani also indicated that his company may unlock more value through a possible IPO, further placements, strategic equity placements at a press meet convened here Thursday.
"Our strategy to create a separate company for the infrastructure business has resulted in tremendous unlocking of value for our shareholders. We hope to continue to take this process forward," he said.
He also said that the amount raised was much more than previously anticipated.
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